Molecular Biology Enzymes, Kits, and Reagents Market Assessment, Demand, Scope and Forecast 2028

According to Precision Business Insights (PBI), the latest report the global Molecular Biology Enzymes, Kits, and Reagents market is expected to be worth USD 15,675.9 million in 2021 and projected to grow at a 17.5% CAGR over 2022 to 2028.
Polymerase chain reaction is rapidly being employed in clinical infectious disease diagnosis, nucleic acid amplification, paternity testing, DNA fingerprinting, infectious disease detection and diagnosis, quality control, and customised medicine. For example, according to statistics published by the Indian Council of Medical Research (ICMR) in March 2022, there would be a 12% increase in cancer incidence in India by 2027. Breast cancer, cervical cancer, and oral cancer are the most frequent types of cancer in India.

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The PCR Segment is Dominating the Molecular Biology Enzymes, Kits, and Reagents Market
The PCR segment is expected to account for a larger revenue share and the market is expected to grow at double digit growth rate over the forecast years owing to the rising frequency of genetic, infectious, and chronic disorders is primarily responsible for the segment's rise. PCR-based diagnostics are increasingly being utilised to guide patient therapy, especially in infectious disease, cancer, and congenital anomalies. According to the World Health Organization, cancer is the second biggest cause of death global, accounting for an estimated 9.6 million deaths in 2018. PCR techniques are commonly used for tumour profiling and bacterial infection detection. In terms of wide PCR applications in molecular biology, the market sector is predicted to develop faster throughout the projection period.

North America Leads Molecular Biology Enzymes, Kits, and Reagents Market:
North America is expected to hold significant market share in the global molecular biology enzymes, kits, and reagents market and is projected to grow at a prominent growth rate over the forecast years owing to increased research funding in translational and clinical research, an increase in the number of pharmaceutical and biotechnology companies, a favourable reimbursement policies for molecular diagnostics, and an increase in research project investments in USA and Canada.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Molecular Biology Enzymes, Kits, and Reagents market further reveals that the key players increasingly adopting strategies such as launch of newer products, product launches, and long-term alliance to improve market revenue share and gaining significant geographic presence across the region. For instance, In November 2018, Stilla Technologies, based in France, announced the conclusion of a Series A fundraising round, which raised US$ 18.3 million (EUR 16 million), headed by Illumina Ventures. The cash will be used to commercialise the Naica digital PCR equipment and to explore clinical applications. In June 2020, Base Genomics, an epigenetics firm situated in Oxford, England, has raised US$ 11 million in early capital (GBP 9 million).

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The molecular biology enzymes, kits, and reagents market is segmented based on product, application, end users and geography.
Based on the Product type, the market is segmented into the following:
• Kits & Reagents
• Enzymes
• Polymerases
• Ligases
• Restriction Endonucleases
• Reverse Transcriptases
• Other Enzymes

Based on the Application, the market is segmented into the following:
• PCR
• Sequencing
• Cloning
• Epigenetics
• Restriction Digestion
• Synthetic Biology
• Other Applications

Based on the End users, the market is segmented into the following:
• Academic & Research Institutes
• Pharmaceutical & Biotechnology companies
• Hospitals & Diagnostic Centers
• Other End Users

Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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Key player's profiles in the molecular biology enzymes, kits, and reagents market are Thermo Fisher Scientific Inc, Illumina, Inc., Qiagen, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd, Merck Kgaa, Jena Bioscience Gmbh, Bioline Technologies, Promega Corporation, Rockland Immunochemical.

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This release was published on openPR.